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AltaGas ( (TSE:ALA) ) has shared an update.
AltaGas announced the closing of its $200 million hybrid note offering, which will be used to redeem or repurchase its outstanding preferred shares. This strategic financial move is expected to result in approximately $30 million in cash savings over five years due to lower taxes and financing charges, enhancing the company’s financial efficiency and benefiting stakeholders.
The most recent analyst rating on (TSE:ALA) stock is a Hold with a C$44.00 price target. To see the full list of analyst forecasts on AltaGas stock, see the TSE:ALA Stock Forecast page.
Spark’s Take on TSE:ALA Stock
According to Spark, TipRanks’ AI Analyst, TSE:ALA is a Neutral.
AltaGas’s overall stock score reflects a balanced view of its financial performance, technical indicators, valuation, and earnings call insights. The strong earnings call performance and fair valuation are significant positives, while mixed financial performance and neutral technical indicators present challenges. The company’s strategic focus on growth and operational efficiency supports its long-term potential.
To see Spark’s full report on TSE:ALA stock, click here.
More about AltaGas
AltaGas is a leading North American infrastructure company that connects customers and markets to affordable and reliable sources of energy. The company operates a diversified, lower-risk, high-growth Utilities and Midstream business focused on delivering resilient and durable value for its stakeholders.
Average Trading Volume: 604,210
Technical Sentiment Signal: Buy
Current Market Cap: C$12.35B
Find detailed analytics on ALA stock on TipRanks’ Stock Analysis page.